Congregation Ohel Shalom of Borough Park pays $3M for mixed-use in Midwood

Congregation Ohel Shalom of Borough Park paid $3 million to the entity 995 East 10 LLC for the two-unit mixed-use building (S2) at 995 East 10th St in Midwood, Brooklyn. The expected use is owner-occupied.
The deal closed on July 2, 2025 and was recorded on July 14, 2025. The property has 4,392 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $671 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on May 18, 2023, for $1.5 million. The signatory for the seller was Hinda Rochel Devorah Katz. The signatory for Congregation Ohel Shalom of Borough Park was Avinoam Butel. The contract date was July 2, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Congregation Ohel Shalom of Borough Park had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Hinda Rochel Devorah Katz had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 2 residential units in Midwood has 4,392 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 32 feet and is 100 feet deep with a total lot size of 3,250 square feet. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.7 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $650 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Midwood, The majority, or 53 percent of the 19.3 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 15 percent of the space. In sales, Midwood has had very little sales volume relative to other neighborhoods with $223.3 million in sales volume in the last two years. For development, Midwood has had very little major development activity relative to other neighborhoods.It had 390,942 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of three of the 14 commercial properties representing 182,641 square feet of the 300,361 square feet. The two identified owners are Yeshivah Of Flatbush and Frey Management.
There are no active new building construction projects on this tax block.

The majority, or 57 percent of the 300,361 square feet of built space are specialty buildings, with elevator buildings next occupying 31 percent of the space.

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